Publicly-listed Vivant Corp. will bid for four power barges being auctioned off by Power Sector Assets and Liabilities Management Corp.
Vivant said in a statement each power barge has an installed capacity of 32 megawatts and all commissioned in the 1980s. The asset sale is divided into two packages. The first consists of Power Barges 101 and 102 while PB 103 and PB 104 will be auctioned separately.
After submission of the initial requirements set by PSALM, Vivant will proceed with due diligence to assess the technical and financial viability of the assets. Deadline for submission of bids is on Oct. 9. Opening and evaluation of bids will follow.
After two rounds of failed bidding, PSALM introduced changes in the bid package to address some concerns raised by interested parties.
Under the new terms, PB 101 to 103 which are located in Iloilo will no longer be required to be transferred to Mindanao. PB 104, which is presently moored in Davao City, is still required in Mindanao for at least five years. source
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